HomeMy WebLinkAbout06-24-15 � . pennsytvania 15 0 5 61410 5
oernnrnentoFRev[nue EX(03-14)(FI)
REV-1500 OFFICIAL USE ONLY
Bureau of Individual Taxes County Code Year File Number
Po aox zso6ol INHERITANCE TAX RETURN �� '� � r� L�
Harrisburg, PA 17128-0601 RESIDENT DECEDENT � ���
ENTER DECEDENT INFORMATION BELOW
Sociai Security Number Date of Death MMDDYYYY Date of Birth MMDDYYYY
' ' 12242014 1 10281928
_ �____ _ .... � �... _. _ . ._.
Decedent's Last Name Suffix DecedenYs First Name MI
Drallios , ' Olga
(If Applicabie)Enter Surviving Spouse's Information Below
Spouse's Last Name Su�x Spouse's First Name MI
_.... _ __ __ _
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
� 1. Original Return p 2.Suppiemental Return r�l 3. Remainder Return(date of death
prior to 12-13-82)
p 4.Agriculture Exemption(date of p 5. Future interest Compromise(date of p 6. Federal Estate Tax Return Required
death on or after 7-1-2012) death after 12-12-82)
p 7. Decedent Died Testate � 8. Decedent Maintained a Living Trust _� 9. Total Number of Safe Deposit Boxes
(Attach copy of will.) (Attach copy of trust.)
p 10. Litigation Proceeds Received p 11. Non-Probate Transferee Return p 12. Deferral/Election of Spousal Trusts
(Schedule F and G Assets Only)
O 13. Business Assets O 14. Spouse is Sole Beneficiary
(No trust invoived)
CORRESPONDENT- THIS SECTION MUST BE COMPLETED.ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED T0:
Name Daytime Telephone Number
_
_ __
Ann K. Drallios ': (717)241-5308
First Line of Address
1 Mayfield Ct. '
Second Line of Address _ _
_ _ _ _ __
City or Post Office State ZIP Code
_
'Carlisle ' ' PA '17013
..... ..... ..... .... . .,.. .... . .....___ ... _.._. ......... ....... .. ......... ......... ..... .,...7
CorrespondenYs email address: annakaS@COfT1C8St.Ilet �� _., �
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REGISTERfi�F ��LS USE 013LY ''':? �"�
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REGISTER pF WILLS USE ONLY �� '��� '� -��
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DATE.FILEd'',STAMP � � -
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PLEASE USE ORIGINA� FORM ONI.Y
Side 1
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1,50561,4105 7,5056141,05 J
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J 1505614205
REV-1500 EX(FI)
DecedenYs Social Security Number
_ _
�e�ede�rs Name: Olga Drallios '
RECAPITULATION
1. Real Estate(Schedule A). . ... . . .. .. ... .. . . . . .. . .. . . . . .. . .. .. . . ... . .. . 1. ' 0.00 '
2. Stocks and Bonds(Schedule B) 2. ', 0.00 ``
3. Closely Held Corporation, Partnership or Sole-Proprietorship(Schedule C) . . . . . 3. I 0.00 '
4. Mort a es and Notes Receivable Schedule D 4. ' 0.00 '
9 9 � ) . . .. . . . .. . .. . . . . .. .. . . . . . . .
5. Cash, Bank Deposits and Miscellaneous Personai Property(Schedule E). . . . . . . 5. ': 10,416.81 '
6. Jointiy Owned Property(Schedule F) O Separate Billing Requested .. . . .. . 6. ', 0.00 '
�.
7. Inter-Vivos Transfers&Miscelianeous Non-Probate Property
(Schedule G) O Separate Billing Requested.. . . . . . . 7. , 0.00
8. Total Gross Assets total Lines 1 throu h 7 8. ; 10,416.81 V
( 9 ).. . . . .. . .. . .. . .. .. . . . . .. .. . . .
9. Funeral Expenses and Administrative Costs(Schedule H). . .. .. . . . . .. .. .. . . . 9. ', 17,950.52 ';
10. Debts of Decedent, Mortgage Liabilities and Liens(Schedule I). . .. . .. . . .. . . . . 10. 0.00 :
11. Total Deductions(total Lines 9 and 10). . .. .. . . . .. . ... .. . . . .. . .. . . . . . . . . 11. ', 17,950.52 '
12. Net Value of Estate(Line 8 minus Line 11) . .. .. .. . .. . . .. .. . . . . . . .. .. . . . . 12. ', 0.00 :
.......,.,. ....._�_ . . _.
13. Charitable and Governmental BequestslSec.9113 Trusts for which
an election to tax has not been made(Schedule J) .. . .. . . . . . . . . . . . .. .. . .. . 13. ', 0.00
14. Net Value Subject to Tax(Line 12 minus Line 13) .. . . . .. . . . . .. . . .. . . . . . . . 14. 0.00 '
TAX CALCULATION-SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxabie
at the spousal tax rate,or
transfers under Sec.9116
�a)�1.2)X.0- ', 15. ', �.00 '.
__ _� _.. ,., ...e_ .- ...,,, �,.,. . ... ... -.__� .� .. _.��.�A„ ..
16. Amount of Line 14 taxable
at lineai rate X.0_ ' 16. ' 0.00 '
�,mx_... � ......: : ,,.,,� __....
17. Amount of Line 14 taxable
at sibling rate X.12 �7. ' 0.00 '
,P A,,,,.., �.., �...d,� ��,,,,,,.,��,, �.. ., - ._., , .m_ ., _..._,�,,
18. Amount of Line 14 taxable
at collateral rate X.15 ', �f3, ' 0.00 ;
19. TAX DUE . . . . .. ... .. . . .. . . . .. .. .. . . . . .. .. .. . . . .. .. . . . . .. . . .. . . . . . . 1y. , 0.00
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT O
Under penalties o°perjury,I declare I have examined this return,including accompanying schedules and statc:ments,and to the best of my knowledge and belief,
it is true,correct and complete. Declaration of preparer other than the person responsibie for filing the return is based on all information of which preparer has
any knowledge.
SIG RE OF PER O RE NSIBLE F ILING RETURN DATE ot�
� 06/�Eh'2015
ADDRESS
1 Mayfield Ct., Carlisle, PA 17013
SIGNATURE OF PREPARER OTHER THAN PERSON RESPONSIBLE FOR FILING THE RETURN DATE
ADDRESS
�I��I'�(I'�I�����������������I�I I���I������I�II�'I�I�������I Side 2
� 1,5056],4205 15056142�5 �
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REV-1500 EX (FI) Page 3 Ffle tdumber
Decedent's Complete Address:
DECEDENT'S NAME
Olga Drallios
-- _...._— —
STREET ADDRESS
1 Mayfield Ct.
_..-
CITY � STA7E � ZIP
Carlisle PA '� 17013
Tax Payments and Credits:
1. Tax Due(Page 2,Line 19) (1) 0.00
2. Credits/Payments
A.Prior Payments 0.00
B.Discount
(See instructions.) Total Credits(A+B) (2) 0.00
3. Interest
(3) 0.00
4. if Line 2 is greater than Line 1 +Line 3,enter the difference. This is the OVERPAYMENT.
Fill in oval on Page 2,Line 20 to request a refund. (4) 0.00
5. If Line 1 +Line 3 is greater than Line 2,enter the difference.This is the TAX DUE. (5) 0.00
Make check payable to: REGISTER OF WILLS, AGENT.
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred ............................................................ ............................. ❑ �
b. retain the right to designate who shall use the property transferretl or its income .......................................... ❑ �
c. retain a reversionary interest ............................................................................................................................. ❑ �
d. receive the promise for life of either payments,benefits or care?..................................................................... ❑ �
2. If death occurred after Dec. 12, 1982,did decedent transfer property within one year�f tleath
without receiving adequate consideration?.............................................................................................................. ❑ �
3. Did decedent own an"in trust for"or payable-upon-death bank account or security at his or her death?.............. ❑ �
4. Did decedent own an individual retirement account,annuity or other non-probate proper#y,which
contains a beneficiary designation? .......................................................................................... ............................. ❑ �
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES,YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
For dates of death on or after July 1, 1994,and before Jan. 1, 1995,the tax rate imposed on the net value o#transfers to or for the use of the surviving spouse
is 3 percent[72 P.S.§9116(a) (1.1)(i)].
For dates of death on or after Jan. 1, 1995, the tax rate imposed on the net value of transfers to or ior the use of the surviving spouse is 0 percent
[72 P.S.§9116(a)(1.1)(ii)].The statute does not exempt a transfer to a surviving spouse from tax,ar�tl the statutory requirements for disclosure of assets and
filing a tax return are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1,2000:
• The tax rate imposed on the net value of transfers from a deceasetl child 21 years of age or younger at death to or for the use of a natural parent, an
adoptive parent or a step-parent of the child is 0 percent[72 P.S.§9116(a)(1.2)].
• The tax rate imposed on the net value of transfers to or for the use of the tlecedent's lineal beneficiaries is 4.5 percent,except as noted in[72 P.S.§9116(a)(1)].
. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12 percent(72 P.S. §9116(a)(1.3)].A sibling is defined,
under Section 9102,as an intlividual who has at least one parent in common with the decedent,whether by blootl or adoption.
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REV-15o8 EX+(o8-1z)
� pennsylvania SCNEDULE E
DEPARTMENTOFREVENUE CASH, BANK DEPOSITS & MISC.
INHERITANCETAXRETURN PERSONAL PROPERTY
RESIDENT DECEDENT
ESTATE OF: FILE NUMBER:
Olga Drallios
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointly owned with right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. M&T Bank Checking Account 9845069492 5,416.81
2. Clothing 1,000.00
3. Jewelry 4,500.00
TOTAL(Also enter on Li�7e 5, Recapitulation) $ 10,416.81
If more space is needed, use additional sheets of paper of the same size.
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THE OLGA DRALLIOS TRUST
SUMMARY OF TRUST TERMS
' Disaosition of Trust Pronertv Durin� the Life of Ol�a Drallios
• Trustee must pay to Olga any portion of the trust property which she requests.
• In addition, Trustee may also make payments of net income and/or principal to or for the benefit of
Olga in the absence of any request by Olga.
Disnosition of Trust Pronertv Unon Death of Otga
• All trust principal outright to Anna Drallios if she survives Olga, otherwise per stirpes to Anna's issue
who survive Olga.
• If none of Anna and Anna's issue survive Olga,trust principal will be distributed per stirpes to Olga's
issue.
• In each case,property distributed to a beneficiary under age 25 will beheld in trust for that beneficiary
until he/she reaches age 25.
Trustees
• Initial Trustee: Jonathan Skaff.
• Successor Trustee:
• There shall at all times be one Trustee. No beneficiary under age 25 may serve as Trustee of any
trust.
• Any Trustee may designate his own successor.
• Any vacancy not filled by a designated successor will be filled by a successor appointed by Olga
if she is of legal capacity, otherwise by Anna if she is of legal capacity, otherwise by the trust
beneficiary.
Notes: The word"issue"means a person's descendants, by blood or adoption,even if born out of
wedlock.
"The phrase"per stirpes to issue"means in equal shares to a person's living children, with the
issue of a deceased child taking that child's share.
125310.194663
LIBB/f657122.1
RELEASE AND CONFIRMATION OF BENEFICIAL INTEREST
IN
DRALLIOS FAMILY TRUST
WHEREAS, by instrument dated July 13, 2005, OLGA DRALLIOS of
Carlisle, Pennsylvania ("Mrs. Drallios") signed a Declaration of Trust establishing the
DRALLIOS FAMILY TRUST (the "Trust"), of which JONATHAN SKAFF (the
"Trustee") is the Trustee; and
WHEREAS, a Schedule of Beneficiaries was executed on July 13, 2005, by
me, certifying that I was the holder of 100% of the beneticial interest in the Trust; and
WHEREAS, it was not the intention of Mrs. Drallios to transfer any portion
of the beneficial interest or title to the trust assets to me as beneficiary at the time of the
creation of the trust but rather to retain the beneficial interest in the trust assets during her
lifetime; and
WHEREAS, I wish to correct an error in the records of the Trust with
respect to the holder of the beneficial interest in the Trust:
NOW THEREFORE, I, ANNA DRALLIOS, hereby,release any beneficial
interest in the Trust and acknowledge that my mother OLGA DRALLIOS is the owner of
100% of the beneficial interest in the trust.
Executed as a sealed instrument this ---��� daY of
)
, 2009.
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�nna Drallios, Beneticiary
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DRALLIOS FAMILY TRUST �
DECLARATION OF TRUST DATED JULY 13, 2005
SECOND AMENDED SCHEDULE OF BENEFICIAL INTERESTS
Beneficiarv Percentage of Beneficial
Interest
JONATHAN SKAFF, T stee of The�,�lga Drallios 100%
Revocable Trust, u/i/d � /�i�'�l, 2009
The above-named beneficiary of DRALLIOS FAMILY TRUST (of which
Jonathan Skaff is now the Trustee) hereby approves the terms of said Trust, and in
consideration of the execution of this amended Schedule of Beneficial Interests at his
request by said Trustee, does hereby agree with the Trustee, for himself and his
successors and assigns, to be bound by said Trust, and to save the Trustee harmless from
any personal liability whatsoever, whether in tort or in contract, for any error of
judgment, or for any loss arising out of any act or omission in the execution of the Trust
so long as he acts in good faith, except that the Trustee shall be responsible for his own
willful breach of trust, knowingly and intentionally committed.
Executed under seal as of this �� � day of ;�,`� S 2009.
r �
BENEFICIARY: TRUSTEE OF DRALLIOS FAMILY
THE OLGA DRALLIOS REVOCABLE TRUST:
TRUST �)
. �
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Jonathan 5kaff; `i'rustee Jo�rathan Skaff, Trustee
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TRUSTEE'S CERTIFICATE
PURSUANT TO
M.G.L. c. 184, §35
DRALLIOS FAMILY TRUST
DATED JULY 13,20�5
JONATHAN SKAFF, Trustee of DRALLIOS FAMILY TRUST (hereinafter the "Trust"), under
instrument of trust dated July 13, 2005, of which OLGA DRALLIOS is the Donor, hereby
certifies the following:
(a) Jonathan Skaff is the current Trustee of the Trust. There shall at all times be at least one
Trustee. Successor or additional Trustees may be appointed by all of the Beneficiazies.
Any Trustee may be removed by all of the Beneficiaries.
(b) The Trustee may hold title to any real estate owned by the Trust in his name as Trustee
and have authority to act with respect to any such real estate, and has full and absolute
power under said Trust to convey any interest in any such real estate and the
improvements thereon, and no one dealing with the Trustee needs to inquire concerning
the validity of anything the Trustee purports to do or needs to see to the application of
any money paid or property transferred to or upon the order of the Trustee.
(c) There are no facts which constitute conditions precedent to acts by the Trustee or which
are in any other manner germane to affairs of the Trust.
EXECUTED as a sealed instrument under the pains and penalties of perjury
on `�, 2009.
. �/�
,
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Jonathan Skaff, Trustee
�,
COMMONWEALTH OF PENNSYLVANIA
'' % / /
�_.�!L�'X-c��—.�( , ss.
On this �z''� day of �.�-.c,�{� �" , 2009, personally appeared before me
JONA'I'HAN SKAFF, proved to me throf�gh satisfactory evidence oF identification to be the
person whose name is signed on the foregoing document, which evidence consisted of
_ ��`�� :'-,{'t�_ �--�--�--- , and acknowledged that he signed said document voluntarily for
its statcd purpose.
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ASSIGNMENT AND ACCEPTANCE OF BENEFICIAL INTEREST
IN
DRALLIOS FAMILY TRUST
OLGA DRALLIOS hereby assigns one hundred percent of the beneficial
interest in DRALLIOS FAMILY TRUST to THE OLGA DRALLIOS REVOCABLE
TRUST, under instrument of trust of even date herewith of which she is the Donor and
JONATHAN SKAFF is the Trustee.
Executed under seal as of this c��� day of� , 2009.
( '(�^�r , J � (. �
Olga Drallios
JONATHAN SKAFF, in his capacity as Trustee of THE OLGA
DRALLIOS REVOCABLE TRUST hereby agrees to and accepts the foregoing
assignment of interest, and in his capacity as Trustee of DRALLIOS FAMILY TRUST
hereby acknowledges receipt of the foregoing assi nment of said interest.
Executed under seal as of this �� � day of ; 1 ti:S' 2009.
,
A�/� J �I %
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/
Jo�than Skaff, a Trustee of The Olga
i�allios Revocable Trust and as Trustee
of Drallios Family Trust
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THIRD: Disposition of Property Ul�on Donor's Death. Upon the death of
the Donor, the Trustee shall dispose of the remaining principal of the trust, including all
property to �vhich he becomes entitled as a result of the Donor's death, as follows:
l. The Trustee shall pay from said principal all sums that are
payable by him pursuant to the provisions of Article EIGHTH.
2. The Trustee shall distribute the balance of said principal to
the Donor's daughter ANNA DRALLIOS if she survives the Donor, otherwise per
stirpes to ANNA's issue who survive the Donor, or in default of such issue, the
Trustee shall distribute said principal per stirpes to the Donor's issue who survive
the Donor. If none of the Donor's issue survive the Donor, the Trustee shall
distribute said balance as though the Donor had then died possessed of the same,
intestate, unmarried, without creditors and domiciled in Pennsylvania.
FOURTH: Trust for Beneficiarv Less Than Twenty-Five Years of A_ge.
Whenever any property becomes distributable by the Trustee to any beneficiary who is
then less than twenty-five years of age, said property shall not be distributed to such
beneficiary but shall instead be held by the Trustee as a separate trust as follows:
1. The Trustee may in his uncontrolled discretion at any time or
times and for any reason pay any part or all of the net income and/or principal of
the trust to said beneficiary, any net income not so paid to be added to the
principal of the trust at such times as the Trustee shall determine and in any event
upon the termination of the trust.
2. Unless sooner terminated by payments of principal as
hereinabove providecl, the trust shall terminate upon the t�verity-tifth birthday of
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said trust among such separate trusts as he in his uncontrolled discretion sees fit.
If so directed by the legally appointed representative of the Donor's estate, the
Trustee shall make such division or allocation.
SEVENTH: Creditors/Spouse of Beneficiary. The interest of each
beneficiary hereunder, whether in income or in principal, shall not be subject to
alienation or anticipation and shall be free from control by any creditors or spouse of said
beneficiary.
EIGHTH: Pavment of Debts Expenses Le�acies and Taxes.
1. The Trustee is directed to pay promptly to the legally
appointed representative of the estate of the Donor all sums that said
representative shall request from him from time to time in writing within five
years after the death of the Donor for the payment of any or all debts and funeral
expenses of the Donor, expenses of administering the Donor's estate, pecuniary
legacies under the Donor's will and all codicils thereto, estate taxes occasioned by
the Donor's death and inheritance taxes on property passing or accruing from the
Donor, whether or not any such taxes are attributable to the property passing
hereunder. The Trustee need not inquire as to the correctness ar propriety of any
amount so requested by said representative and shall not be responsible for the
application thereof, the receipt of said representative being a complete discharge to
the Trustee for any such payment.
2. The Trustee is authorized to resist, settle, compromise and/or
pay the �vhole or any part of any or all of the items referred to in section 1 of this
Article to the e�ctent to which said items are not s�ttled, com�r�mised or paid by
said representative. The Trustee is directe�l to charge am� an�i all payments �Tiade
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including without limitation (i) any and all property received by
them by gift, by will or otherwise from the Donor or anyone else, (ii)
any shares, participations or other interests in a common trust fund
or a mutual fund and (iii) any securities or obligations of any
closely-held corporation and/or limited liability company in which
the Donor has an interest at the time of her death, any beneficial
interest in any business trust or interest in any partnership in which
the Donor has an interest at the time of her death, and any ownership
interest in or obligation of any corporation, company, association or
organization that is determined by him to be associated with or a
subsidiary, parent, affiliate or successor to the whole or any part of
the business of any such corporation, limited liability company,
business trust or partnership;
(b) to make public or private offerings for the sale of any
securities, to enter into agreements incident thereto containing
representations, warranties and indemnity provisions and to incur
liabilities in connection therewith; to participate in the formation,
termination, dissolution, liquidation, reorganization, recapitalization,
consolidation, sale or lease of any corporation, limited liability
company, trust, partnership or other business organization, and to
receive and retain any securities, partnership interest, beneficial
interest or other property resulting therefrom; to deposit securities in
a voting trust or with a committee, fiduciary or depositary
representing holders of securities; to exercise in whole or in part any
or all options or other rights to purchase securities of or interests in
any business organization;
(c) to operate, carry on or liquidate the business of any
partnership or unincorporated business and to hire employees, make
contracts, purchases and other commitments and incur and pay bills
and other obligations in connection therewith; to transfer, convey,
assign and set over thereto any property, upon such terms and
conditions, including without limitation terms regarding
participation in profits and losses, contributions to capital, liabilities
for indebtedness and other matters incident thereto, as the Trustee in
his discretion determines;
(d) to vote, to give proYies with or without po�ver of
substitution and to eYercise other rights of a holder of securities;
(e) to hold unproductive property, includin�* �vithout
limitation uninvc:stcd cash;
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(p) to refrain from making compensating adjustments to
income or principal as a result of elections made or deductions taken
on tax returns.
TENTH: Investment Counsel; Dele�ation of Investment Responsibilities.
The Trustee of any trust hereunder may at any time or times in his uncontrolled discretion
employ investment counsel for such trust. The Trustee may consult with said counsel
while so employed with respect to all matters concerning the investment of the trust
assets and/or may delegate to said counsel all or any portion of their powers, authorities
and discretions relating to the retention, sale or purchase of securities or other property.
Should the Trustee choose to delegate said powers, authorities and discretions to said
counsel, the Trustee shall not be liable for any losses or other consequences resulting
from any action or inaction taken by said counsel. The Trustee may pay said investment
counsel reasonable compensation for its services while so employed and charge any such
payment as an expense of administering the trust.
ELEVENTH: Liabilitv of Trustees. A Trustee shall not be liable for the
default of any predecessor Trustee or for any error of judgment or law on his own part,
but he shall be liable only for his own wilful default. Any Trustee or any firm,
corporation or association in or with which he is in any way interested or connected may
act as attorney for, deal and contract with and be employed by the Trustee, and any
Trustee, or any director, officer or employee of a corporation acting as a Trustee, may be
in any manner interested in or connected with any corporation, association or business in
�vhich any trust is directly or indirectly interested, all in the same manner and with the
same freedom as though not a Trustee or the director, officer or employee of a
coiporation acting as a Trustee and without accountability t��r any profit, benefit or
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shall constitute a full and complete discharge to the Trustee from further accountability or
liability as to all matters and transactions stated therein or shown thereby and as to all
persons, whether in being or under disability or not, who have been, are then or may
thereafter become eligible to share in either the principal or the net income of said trust.
THIRTEENTH: Successor Trustee. Any Trustee of any trust hereunder
may resign at any time from said trust by a writing signed by him. Written notice of
resignation shall be promptly given by the resigning Trustee to the person named herein
to succeed said Trustee or named in any document designating a successor to said Trustee
as provided herein. If there is no named successor to said Trustee, said notice shall be
given to each person then entitled to participate in the selection of a Trustee because of a
vacancy in said office. Failure to give any notice shall not invalidate the resignation, but
it shall not be effective as against any person dealing in good faith with the apparent
Trustee of said trust without knowledge thereof. Any individual serving as a Trustee of
any trust hereunder shall cease to serve as Trustee if said individual becomes incapable of
conducting business affairs.
The Donor may at any time or times while she is living and of legal
capacity remove any Trustee then serving in said office and appoint a successor Trustee
by a writing signed by the Donor and delivered to the Trustee so removed, bearing the
written acceptance of the successor Trustee so appointed.
There shall at all times be one Trustee of each tnist hereunder. No
beneficiary of any trust created under Article FOURTH shall serve as Trustee of any trust
hereunder. At any time or times, a Trustee of any trust hereunder may, by an instrument
signed by him and filed with the original of this trust instrument, designate an in:iividual
��r corporate fiduciary to succeed him as Trustee if he shall f���r �riy reason t��il or cease to
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2. After the death of the Donor, the Trustee shall use his best
efforts to collect and receive all amounts payable to him as beneficiary of said
policies after deducting therefrom all advances, loans, premiums and other charges
then payable from said policies; provided, however, that the Trustee shall be
responsible for the proceeds of said policies only as, if and when paid to him, and
that except at his own option he shall not enter into or maintain any litigation to
enforce payment of the proceeds of any of said policies until he has been
indemnified to his sole satisfaction against all expenses and liabilities for which he
may be obligated by such action on his part.
FIFTEENTH: Amendment or Revocation. The Donor expressly reserves
the right to amend this instrument and the trusts hereby created in any respect whatever
and as often as desired, and also to revoke the same, either in whole or in part, by an
instrument signed by the Donor and delivered to the Trustee. Upon termination of the
trust pursuant to this Article the property then held in trust and then or thereafter payable
to the Trustee, less such taxes, assessments and charges, including termination fees, as
may properly be assessed against or charged upon the trust funds in the hands of the
Trustee, shall be transferred and conveyed to the Donor, or as the Donor may in writing
direct, and the Donor's receipt therefor shall be a sufficient acquittance of the Trustee.
SIXTEENTH: Limitation of Trustees' Power. Notwithstanding any of the
foregoing provisions to the contrary, no Trustee of any trust hereunder shall have the
power, authority or discretion to make or participate in any discretionary decision to
make or apply any payment to or for the benefit of the beneficiary of said trust in
satisfaction of the obligation of said Trustee to support said beneficiary.
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(d) the term `guardian' means the legally appointed
guardian or conservator of the property of a beneficiary;
(e) the term `property' means any property, �vhether real,
personal or mixed;
(fl a disposition herein `per stirpes' to the issue of a
person shall be deemed to require a primary division into as many
equal shares as there are children of such person who are living and
children of such person who are deceased with living issue; and
(g) the term `Code' means the Internal Revenue Code of
1986 and, except as otherwise provided herein, reference to any
section of the Code shall be deemed to refer to such section of the
Internal Revenue Code of 1986 as in effect on the date hereof and/or
the corresponding provisions of subsequent federal tax laws.
2. The validity, interpretation, construction and administration of the
trusts hereby created shall in all respects be governed by the laws of Pennsylvania. The
descriptive headings of articles hereunder are included for convenience of reference only
and shall not be construed to be a part of this instrument or in any respect as affecting or
modifying its provisions. Where the context so permits, each of the masculine, feminine
and neuter genders shall be deemed to denote the other two genders, the singular to
denote the plural and the plural to denote the singular.
Executed under seal this ��1 day of � � t 2009.
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Olga D allios, �,D�orioi'
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� nathan Skaff, Trustee
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� THE OLGA DRALLIOS REVOCABLE TRUST
DESIGNATION OF SUCCESSOR TRUSTEE
JONATHAN SKAFF, Trustee of THE OLGA DR.ALLIOS REVOCABLE
TRUST, under instrument of trust dated �'1 ; ��T '''� 2009 of which OL
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DRALLIOS is the Donor, pursuant to the power granted in Article THIRTEENTH of
said instrument of trust hereby designates �41i1�'t f�rGi�l/ c�s of
,
� '�1 �S f• , to fill any vacancy in the office of Trustee of any trust
thereunder which occurs in the event that he ceases to serve in said office.
Executed under seal this � day of �� 2009.
,
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,,I athan Skaff, Trustee
COMMONWEALTH OF PENNSYLVANIA
: ���.���1 , SS.
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On this /9'`� day of Gt.. c,�,�, �`" , 2009, before me, the
undersigned notary public, personally appeared JONATHAN SKAFF, proved to me
through satisfactory evidence of identification, which consisted of
,�LcJ �bo ,<;c.�-�--t-- , to be the person whose name is signed on the foregoing
document, and acknowledged to me that he signed said document voluntarily for its
stated purpose.
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